For five weeks, analysts around the world have been struggling to find an explanation for Pakistan's (mis)adventure in Kashmir. Did it not know that a conflict in Kargil could easily escalate into a full-scale war? Did it not know that it simply does not have the economic capacity to sustain such a war, for who would sell arms on credit to a country with barely a billion dollars worth of foreign currency reserves and five times that amount to repay in the current year? Did it not know that a larger war would almost certainly lead to a cut-off or postponement of IMF aid? Did it not know that this would force it to default on its external payments? And is it possible that his economists did not inform Nawaz Sharif that a default would mean the suspension of trade credits, a collapse of industry and agriculture and skyrocketing inflation?